The economy’s not a car, there’s no engine to stall
no expert can fix it, there’s no “it” at all.
The economy’s us, we don’t need a mechanic.
Put away the wrenches, the economy’s organic. — Hayek versus Keynes “Fight of the Century”
I just want to say that today was the day when the European Union ends.
If anything this proves that the EU will stop at nothing to keep itself from imploding.
Gazprom (Russia) Offers Cyprus Restructuring Deal -
Is Russia Going to Bailout Cyprus Instead? -
Interesting world we live in.
(Source: wanderlustandliberty, via libertariantaoist)
One of two photos purportedly from an ATM in Cyrpus. (Here’s the other. Both were found via Zoe Mavroudi.) They each say the same thing — that there’s been a ‘technical error’ and that they can’t issue money today.
Why are people trying to take their money out? Because there’s a sudden levy of “6.75 percent of all deposits under €100,000 and 9.9 percent of all deposits above €100,000.”
Here’s a Reddit user posting about the situation. Here’s Joe Weisenthal’s take on it.
What’s happening in Cyprus is unbelievable. Can you imagine what would happen if the UK government pulled something like this? It would be anarchy.
It’s absolute robbery.
Looks more like negative interest rates to me.
The Eurozone will stop at nothing to survive.
Absolute power does not corrupt absolutely, absolute power attracts the corruptible. — Frank Herbert
Cyprus gets bail out, steals from citizens -
What a joke. The government fucks up, the citizens pay.
Taxation is theft. Never question that. But this is as blatant as it gets.
They say that time is money. What they don’t say is that money may be running out of time — Bill Gross